Asset management company DSP BlackRock today launched its first scheme in the passive funds space - the DSP BlackRock Equal Nifty-50 Fund.
The fund is an equal-weighted variation of the Nifty- 50 index with the same constituent set of companies.
"We launched our first passive fund through an interesting smart beta concept of equal weight portfolio.
"The market, too, is maturing with current AUM (assets under management) of Rs 65,000 crore in exchange traded fund and passive funds since EPFO and PFs started investing in 2014," DSP BlackRock President Kalpen Parekh said in a release.
The core investment principle for this fund is to invest in blue-chip benchmark companies that are leaders in their sectors, large in size and can ride through business cycles, it said.
The Equal Nifty-50 Fund, owing to its methodology, aims to provide better sector and stock diversification compared to the Nifty-50 Index, the release added.
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